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The 2014 Autumn Statement was very encouraging for the Peer to Peer Lending Industry – thank you Mr Osborne! George Osborne in his Autumn Statement stated that the Government is determined to support a more competitive banking sector where new banks, alternative providers and financial technology (fintech) firms can thrive
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The alternative finance market is expected to be worth £1.74 billion by the end of 2014, an increase of 161 per cent on 2013. As the industry grows, encouraging more consumers and businesses to try an alternative finance model, recent research by Nesta highlighted the need to improve levels of